Small businesses will suffer the most from the slow economic recovery of countries like the Philippines, which have meager fiscal stimulus despite ballooning debt for pandemic response, think tank Moody’s Analytics said on Wednesday.
“The longer the recovery, particularly if fiscal support has been modest, as in Indonesia, the Philippines and Thailand, there is a greater chance of long-term scarring. And this could be particularly evident among industries with a large share of small- and medium-size enterprises,” Moody’s Analytics chief Asia-Pacific economist Steven Cochrane said in his report titled “APAC Outlook: The Long and Winding Road.”
Micro, small and medium enterprises (MS…
Keep on reading: MSMEs to be hit hardest by slow PH recovery, says Moody’s Analytics